CELEG: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
CELEG
Largest movements
- Current investments +€57,172
up €57,172 (+328%), from €17,422 to €74,595
- Receivables within one year -€18,150
down €18,150 (-50.0%), from €36,300 to €18,150
- Cash +€17,541
up €17,541 (+21.8%), from €80,551 to €98,092
mainly Net result for the year (+€52,272) and Receivables within one year (+€18,150)
- Tangible fixed assets -€2,260
down €2,260 (-81.7%), from €2,767 to €507
- Reserves +€52,272
up €52,272 (+46.5%), from €112,455 to €164,727
- Trade debts -€3,573
down €3,573 (-48.7%), from €7,341 to €3,769
- Tax, wage and social debts +€2,985
up €2,985 (+31.4%), from €9,497 to €12,482
- Other debts +€2,619
up €2,619 (+169%), from €1,547 to €4,166
- Gross operating margin +€23,916
up €23,916 (+42.6%), from €56,186 to €80,102
- Taxes +€9,407
up €9,407 (+62.6%), from €15,034 to €24,441
- Financial charges -€4,976
down €4,976 (-95.7%), from €5,202 to €226
- Financial income -€1,374
down €1,374 (-80.8%), from €1,701 to €326
- Other operating charges +€890
up €890 (+262%), from €340 to €1,229
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €137,041 | €191,344 | +€54,303 | +39.6% |
| Fixed assets | 21/28 | €2,767 | €507 | -€2,260 | -81.7% |
| Tangible fixed assets | 22/27 | €2,767 | €507 | -€2,260 | -81.7% |
| Furniture and vehicles | 24 | €2,767 | €507 | -€2,260 | -81.7% |
| Current assets | 29/58 | €134,274 | €190,837 | +€56,563 | +42.1% |
| Amounts receivable within one year | 40/41 | €36,300 | €18,150 | -€18,150 | -50.0% |
| Trade receivables | 40 | €36,300 | €18,150 | -€18,150 | -50.0% |
| Current investments | 50/53 | €17,422 | €74,595 | +€57,172 | +328% |
| Cash at bank and in hand | 54/58 | €80,551 | €98,092 | +€17,541 | +21.8% |
| Total equity and liabilities | 10/49 | €137,041 | €191,344 | +€54,303 | +39.6% |
| Equity | 10/15 | €118,655 | €170,927 | +€52,272 | +44.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €112,455 | €164,727 | +€52,272 | +46.5% |
| Distributable reserves | 133 | €112,455 | €164,727 | +€52,272 | +46.5% |
| Amounts payable | 17/49 | €18,386 | €20,416 | +€2,031 | +11.0% |
| Amounts payable within one year | 42/48 | €18,386 | €20,416 | +€2,031 | +11.0% |
| Trade debts | 44 | €7,341 | €3,769 | -€3,573 | -48.7% |
| Suppliers | 440/4 | €7,341 | €3,769 | -€3,573 | -48.7% |
| Taxes, remuneration and social security | 45 | €9,497 | €12,482 | +€2,985 | +31.4% |
| Taxes | 450/3 | €9,497 | €12,482 | +€2,985 | +31.4% |
| Other amounts payable | 47/48 | €1,547 | €4,166 | +€2,619 | +169% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,509 | €2,260 | -€249 | -9.9% |
| Other operating charges | 640/8 | €340 | €1,229 | +€890 | +262% |
| Gross operating margin | 9900 | €56,186 | €80,102 | +€23,916 | +42.6% |
| Operating profit (loss) | 9901 | €53,337 | €76,613 | +€23,276 | +43.6% |
| Financial income | 75/76B | €1,701 | €326 | -€1,374 | -80.8% |
| Recurring financial income | 75 | €1,701 | €326 | -€1,374 | -80.8% |
| Financial charges | 65/66B | €5,202 | €226 | -€4,976 | -95.7% |
| Recurring financial charges | 65 | €5,202 | €226 | -€4,976 | -95.7% |
| Profit (loss) for the period before taxes | 9903 | €49,836 | €76,713 | +€26,877 | +53.9% |
| Income taxes | 67/77 | €15,034 | €24,441 | +€9,407 | +62.6% |
| Profit (loss) for the period | 9904 | €34,802 | €52,272 | +€17,471 | +50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,802 | €52,272 | +€17,471 | +50.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.